Press release
Ribbed Belt Market to Witness an Outstanding Growth by 2025
In an automotive application, the ribbed belts transfer the power to the power train more effectively since it bends around the pulley by consuming less energy. The dimensionally stable and elastic ribbed belt fits perfect with the drive systems and offers characteristic properties such as minimum slip, enhanced power transmission & speed ratios and high resistance to oil and temperature. Another major end use industry is the home appliances, a ribbed belt is widely used in the washing machines, conveyors etc. The global ribbed belt market is expected to grow at significantly high CAGR during the forecast period.
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The ribbed belt offers multiple advantages. The efficient absorption of vibrations by the ribbed belts results in smooth operations of the rollers in industries leading to the minimum wear of the components. Thus, the optimum damping of the drive vibrations and enhanced service intervals drives the global ribbed belt market. Further, the ribbed belts do not require much maintenance in industrial operations because of which the service cost is reduced and hence benefits the manufacturer. On the other note, it also heaves low noise thereby improving work conditions. These factors play an important role in driving the global ribbed belt market.
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The global ribbed belt market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). The ribbed belt market in APEJ is robust in terms of production. This is attributed by major natural rubber producing countries, such as Indonesia, Thailand and Vietnam. Further, the auto component industry in APEJ region is also strong which boosts the ribbed belt market. Western Europe and North America regions, are expected to grow at moderate CAGR during the forecast period since the ribbed belt market is established with the presence of key players.
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